On November 26, Maxeon Solar Technologies announced plans to build a 2GW PV module manufacturing factory in Albuquerque, New Mexico, as part of its strategic restructuring. The company will subsequently focus solely on the utility, residential, and commercial sectors in the US market. Production at the factory is scheduled to commence in early 2026.
Previously, in August 2023, Maxeon had announced plans to open a 3GW solar cell and 3GW module factory in Mesa Del Sol, Albuquerque, for the production of shingled PV modules, with construction planned to start in the first quarter of 2024.
As part of its strategic restructuring, Maxeon has also agreed to sell its sales and marketing segments in the Europe, Middle East, and Africa (EMEA), Asia-Pacific (APAC), and Latin America (LATAM) markets to China’s TCL Group. Maxeon will also reorganize its business to form a new solar solutions business segment named TCL SunPower International. TCL Group will also acquire Maxeon’s manufacturing operations in the Philippines, with both parties planning to sign a definitive agreement by the end of 2024.
After divesting these business segments, Maxeon will continue to operate as an independent, Nasdaq-listed company. Maxeon stated, “In markets outside the US, TCL SunPower will offer innovative, sustainable solar solutions for homeowners and businesses, including SunPower solar solutions sold through existing SunPower-branded exclusive installation partners and TCL solar products sold through distribution channels.”
